XRP is currently stuck in a price range that spot traders already dislike, with quotes at $2.37 today after a quick dip to $2.19. Chart analysis reveals a familiar issue: the price is breaking down through the middle line of the Bollinger Bands and is now heading toward the lower edge.
On a weekly time frame, that important threshold sits at $1.95. This means the indicator allows for a dip below $2 without signaling that XRP is oversold. Unfortunately, daily candles are no better. XRP’s price has been riding the lower band at $2.12 for several days, while the middle line at $2.67 now seems out of reach. Every attempt to bounce back fades before even touching it.
For those unfamiliar with Bollinger Bands, they consist of a moving average sandwiched between two volatility rails. When candles close above the middle band, it indicates strength. Conversely, when prices hover near the bottom rail, it signals weakness. Right now, XRP is positioned at the bottom on both daily and weekly time frames, making the bearish bias clear.
This is why the $2 price point matters so much. It’s not just a round number on the chart — it’s where many stop losses are placed. Since July, conviction has been elusive, hiding just below this key level. A clean break below $2 could trigger a cascade effect: liquidations, exits, new short positions, and increased sell pressure.
Traders should watch closely to see if XRP can hold this crucial support or if further declines are imminent.
https://u.today/2-xrp-may-soon-become-no-more-than-dream-bollinger-bands-warn